i am about to buy a hud foreclosure but the copper wires on the water heater were stolen.Is it wise to repair?

Asked by Paul, Dallas, TX Wed Feb 27, 2008

it or buy a new unit.How much is the cost?

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Sharon L. Ke…, Agent, Port Charlotte, FL
Thu May 8, 2008
I would strongly encourage you to enlist the services of a licensed home inspector, plumber and/or electrician to advise you accordingly. Best wishes with your endeavors!
0 votes
Tracy Campbe…, Agent, Havelock, NC
Thu May 8, 2008
If you haven't closed yet you could ask the foreclosure company to repair it. I know they always say the house is "as is" and they'll do no repairs but I have had some companies pay for repairs on foreclosures. If they won't pay you'll still have to have it repaired. Call an electrician and let him repair it. Better safe then sorry.
0 votes
Terri Hayley, Other Pro, Dallas, TX
Thu May 8, 2008
Paul,

Your best bet would be to talk to a plumber about it being grounded correctly. Please feel free to call James Wielkens at 972.837.0674. Tell him Terri Hayley referred you. He is so awesome. James can answer your questions and would probably be better qualified to answer.

Also, in sections of the country, they only use PEX and have gone away from copper. However, PEX is fairly new for us here in Texas. There are a LOT of homes with copper and many, many people replace copper. James is a copper guy.

Hope this helps,
Terri Hayley
0 votes
Kathleen Sei…, Agent, Gainesville, FL
Wed May 7, 2008
Which copper wires were stolen? I think it is very different if they clipped the wire at the wall and the heater, or if they pulled it out of the wall itself. You are probably looking at at least a couple hundred to get an electrician to fix the wiring, if they don't need to run a new circuit from the panel.

It sounds like you need to repair the wiring whether or not you keep the heater that is there, but I don't know what you are looking at. You should probably get a couple people to come out and give you their opinions & quotes - electricians & plumbers so you have a wide range of opinions and motives.

If you decide to replace the heater keep in mind that you can get those new-fangled on demand heaters that are supposed to save you lots of money on your bills.
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Rodrigo, Both Buyer And Seller, Houston, TX
Wed May 7, 2008
You need to get a bid on PERMIT work to replace the wiring. It's a fire hazard to have substandard wiring, so you shouldn't trust the contractor. You need to make sure the contractor bids how much it will cost to do the work with a permit. Depending on how many contractors are hungry for work where you are, it could be very expensive to replace all the wiring in a house to code.

As for real estate agent Bruce Lynn, "you might as well go to a plumber's forum" - what do real estate agents do besides try to close deals with their tacky portrait photo business cards? Let's see, the title company does the transfer paperwork, the mortgage lender does the loan paperwork, and the real estate agent does... nothing. You'd be better off hiring a cab driver to show you properties.

And they all talk about "expertise" and "professionalism" yet getting a real estate license requires only a 40 hour class and not even an AA degree. Beauticians face tougher education and training standards than real estate agents (not kidding, they require more education and training to get a license). Maybe the national beautician's association should devise some new payment method where when you get a haircut, the price is equal to some percentage of your annual income.

The only silver lining in the mortgage meltdown is that a lot of real estate agents are going to have to find other work. I know people who went from waiting tables, working as securities guards, etc. to getting big bucks scamming people into taking risky loans to buy over priced real estate. With sales down 50% year over year and the bottom of this thing a couple of years off, perhaps I'll see Mr. Lynn on my next visit to Denny's. But I am not going to tip unless he apologizes for participating in this sad debacle.
0 votes
Tman, , 30642
Thu Feb 28, 2008
Congrats on maybe a good deal ...

Nobody is replacing copper wire anymore with copper, including insurance companies .... Home Depot, UPVC .50cts a foot, done business.

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0 votes
Dallas Texas, Agent, Dallas, TN
Thu Feb 28, 2008
Have you had the house inspected? If so what did the inspector say about the wiring? How much will it cost you replace the wiring? Do you have the money to replace the wiring? Is that all that is wrong with the house? What does your agent state? If the house below market value for you to take the expense and time to replace the wiring? How many water heaters does the house have? Do you have a contractor who can work with you upon move in for the house therefore you can use the water heater? If the house has 2 water heaters till you get it repaired?.... There are some other GREAT homes in the Dallas area foreclosures 30% below market value. GREAT TO WIN A HUD bid, they are difficult to obtain with allot of paperwork.
Web Reference:  http://www.lynn911.com
0 votes
Bruce Lynn, Agent, Coppell, TX
Thu Feb 28, 2008
Unfortunately you're asking real estate agents here.....probably better to go to a plumber's forum. Congratulations on winning the bid on the HUD home. I hope you got a really good deal.
Web Reference:  http://www.teamlynn.com
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